SAMA Issues Licenses for Seven Financing Companies

The Saudi Arabian Monetary Agency (SAMA) issued on Monday licenses for seven companies operating in one or more financing activities.

The newly licensed firms include Nayifat Finance Company, Saudi ORIX Leasing, Yosr Leasing and Finance, AJIL Financing Services, National Company, Murabha Finance, and Kirnaf Investment and Installment Company.

SAMA launched on Sunday the mandatory application process for financing companies seeking licenses, according to data available on Argaam.

The central bank approved requests for 37 firms— 12 of which are banks, four are real estate financing companies, and seven are firms engaged in one or more financing services, excluding mortgaging.